Latest News

Deep Industry Survey: 86% Clients Highly Satisfied with the SOFTSWISS Casino Platform

Published

2 years ago

December 21, 2022

Reading Time: 4 minutes

Transparent cooperation, top service level, simple and quick communication and variety of game providers are the most crucial characteristics for choosing an iGaming provider in 2022. These are the insights discovered during a deep client research held for SOFTSWISS, a leading innovative tech company for iGaming.

The survey was conducted by the marketing research leader Kantar Ukraine on behalf of SOFTSWISS to gain a deeper knowledge of the iGaming industry, figure out the most significant criteria for сhosing a casino platform provider, and gauge the level of client satisfaction with the SOFTSWISS Casino Platform compared to competitor products.

The business research covering the period from July to October 2022 is a continuation of the last year’s similar undertaking.

European Gaming Congress 2024 (Warsaw, Poland)

WINNING IGAMING PROVIDER PORTRAIT

The respondents point out that in 2022 the most important characteristics of an iGaming partner are the following:

Transparent cooperation
Services and products that meet the needs of your company
Support in income generation activities

‘Provider is truly your financial partner today’ has climbed up the importance charts. This time, 93% of operators voted for the importance of this criterion against 63% in 2021.

The survey results demonstrate that ‘Prompt resolution of tech issues and response’ and ‘Flexibility when discussing the terms of cooperation’ remained unshakable.

As for the personal touch aspects impacting the decision-making process, SOFTSWISS clients highlighted:

Provides top service level
Simple and quick communication with managers

The last year’s medium priority ‘Attentive attitude to each client’ criterion moved to the higher priority section.

Same as in 2021, the lowest priority is still given to such attributes as an iGaming leader status, positive effect of cooperation on the operator image, and provider influence on the entertainment and gambling industry development.

According to the research, every second client has been working with SOFTSWISS for more than 3 years, and the company is generally described as a long-term partner with expertise in the entertainment industry and deep understanding of the market.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, comments on the survey results: “The shift in operator preferences towards flexibility in cooperation, business profitability, and high-quality communication demonstrates that a high-end software offering is not enough to be No.1 iGaming provider. Operators require more high-touch engagement and strategic interaction in partnership. That’s what we are focused on. The SOFTSWISS team appreciates all operators for choosing us as a business partner. In 2023, we’ll continue to give our clients the confidence, security and reliability they need to grow their business.”

CLIENT OPINION: СASINO PLATFORM CHARACTERISTICS

Another part of the survey was dedicated to exploring top priority features for choosing an online casino platform – the core product for launching an iGaming project. Respondents noted the following crucial characteristics:

Variety of game providers
Flexibility of bonus settings
Player reporting
Support for various payment system
Promo activity settings

The ‘Payment systems management’ and ‘Supported currencies’ criteria remained equally important for operators this year. However, respondents gave more prominence to financial reporting and licensing, mainly due to the growing number of regulated markets. Since this trend is expected to grow even stronger in the future, licensing will also continue to gain its score as it carries significant competitive advantages for industry players.

Placed at the lower end of the scale, game descriptions appear to be less important for operators in 2022.

SOFTSWISS VS IGAMING MARKET DEMANDS

In assessing their satisfaction with the SOFTSWISS Casino Platform, operators highlighted its technical and functional benefits. 86% of the respondents gave positive feedback of 7-10 points, while 14% of operators stayed below 7. In total, the platform scored 7.6 points out of 10, which is 0.2 points above the 2021 result.

According to the survey, clients choose the SOFTSWISS Casino Platform for its expanded roster of game providers, licences, and supported currencies.

Analysing the survey results Darya Avtukhovich, Head of SOFTSWISS Casino Platform, summarises: “To date, the team behind the SOFTSWISS Casino Platform has launched almost 400 successful projects, which makes this product the biggest and most meaningful offering in the company’s portfolio. Since 2021, the number of highly satisfied operators has increased. It’s a strong drive for the team to develop new breakthrough product updates and raise the satisfaction level to new heights.”

Speaking of the service support level, SOFTSWISS has outperformed its competitors by 1.6 points on a 10-point scale. Gaining 0.4 points year-on-year, this figure is an important performance indicator for SOFTSWISS as the team aims to deliver the best-in-class client service.

Clients emphasise that one of the most significant SOFTSWISS advantages compared to competitors is simple and quick communication with business account managers.

KEY TAKEAWAYS

The results of the survey show that client priorities in choosing a business partner and casino platform products are changing following general business and industry trends. Considerably more prominence is now given to trust-based and quick communication, flexibility in partnership as well as unwavering commitment to top service level. As for product expectations, operators seek diversity in game portfolios, gamification tools and features, availability of various payment systems, and deep analytics in finance and customer behaviour.

Summarising the SOFTSWISS results, the increase of the overall client satisfaction score is the most important measure of consistent growth across major performance characteristics. Partnership with SOFTSWISS is associated with confidence, security and reliability.

“In order to strengthen the SOFTSWISS brand position as a leading tech company for iGaming, we need to foresee tomorrow’s market needs and requirements. Client surveys form the basis for achieving this goal. The results of the 2022 survey show that operator expectations are changing rapidly. We are proud that this year we’ve managed to meet client expectations, and increased their satisfaction level. Doing deep marketing research is becoming our annual tradition and we’ll continue to share industry insights with the market in the future”, comments Valentina Bagniya, Chief Marketing Officer at SOFTSWISS.

About SOFTSWISS

SOFTSWISS is an international iGaming company supplying certified software solutions for managing gambling operations. The expert team, which counts 1,500+ employees, is based in Malta, Poland, Georgia, and Belarus. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.

Latest News

Stretch Network Crazy Promotion

Published

20 minutes ago

November 15, 2024

George Miller

Reading Time: < 1 minute

Stretch Network is thrilled to announce a crazy opportunity to engage and reactivate small- and medium-stakes poker players with the launch of our latest tournament.

Tournament Details:
Name: CRAZY?! [Overlay Edition]
Guaranteed Prize Pool: €11,111
Buy-in: €1
Re-entry: €1
Start Time: 17:00 (UTC+0)
Date: November 24, 2024
Table Format: 8-max
Max Players: 2000
Entry Phases: Starting from just €0.1

This event is guaranteed to have an overlay, providing exceptional value and sure to generate excitement within the community.

Collaborate to make CRAZY?! [Overlay Edition] an unforgettable experience for your players.

The post Stretch Network Crazy Promotion appeared first on European Gaming Industry News.

Bragg

Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)

Published

21 minutes ago

November 15, 2024

GamingAmericas.com

bragg-gaming-group-announces-record-third-quarter-2024-revenue-of-eur-262-million-(usd-29.3-million)

Bragg Gaming Group, a global B2B content-driven iGaming technology provider, reported record revenue for the third quarter of 2024.

Summary of 3Q24 Financial and Operational Highlights

Euros (millions)⁽¹⁾	3Q24	3Q23	Change
Revenue	€ 26.2	€ 22.6	15.9 %
Gross profit	€ 14.0	€ 11.9	18.1 %
Gross profit margin	53.5 %	52.5 %	99 bps
Adjusted EBITDA⁽²⁾	€ 4.1	€ 3.8	7.1 %
Adjusted EBITDA margin	15.6 %	16.9 %	(129) bps
Operating Income (Loss)	€ (0.4)	€ (2.1)	(81.0) %

(1) Bragg’s reporting currency is Euros. The exchange rate provided is EUR 1.00 = USD 1.12. Due to fluctuating currency exchange rates, this reference rate is provided for convenience only.
(2) “Adjusted EBITDA” is a non-IFRS measure. For important information on the Company’s non-IFRS measures, see “Non-IFRS Financial Measures” below.

Chief Executive Officer Commentary
Matevž Mazij, Chief Executive Officer for Bragg, commented, “The third quarter marked another period of strong growth and record results for Bragg. Revenue grew 16% year-over-year, gross profit increased 18%, and Adjusted EBITDA rose 7%. In the U.S., strong third quarter revenue gains from content distribution helped drive a 40% global increase in proprietary online content revenue year-over-year.

“Additionally, we announced today that the Board of Directors has unanimously decided to conclude its review of strategic alternatives for Bragg. After extensive evaluation and deliberation, the Board determined that the ongoing execution of the Company’s strategic plan is the best way to maximize value for shareholders at this time.

“Since stepping in as Chairman 16 months ago and then as CEO 14 months ago, we’ve transformed our executive team, restructured commercial operations, and sharpened our sales strategy with a targeted, jurisdictional approach. These decisive actions position us to drive growth and capture market opportunities with greater precision and impact. Under new leadership, we’ve built a strong pipeline of tier 1 opportunities across key markets and key products, positioning Bragg for accelerated top- and bottom-line growth.

“With the strategic review process now complete, Bragg is now fully focused on commercialization and unlocking profitable growth, without the need for significant new investment in product development. Our decade-long investments in technology and talent, combined with a robust leadership team, have built a scalable platform that uniquely positions us for aggressive growth in 2025 and beyond. With significant operating leverage now within reach, we’re poised for an exciting, high-growth, and profitable future.”

Third Quarter 2024 and Recent Business Highlights

Launched its newest games and Remote Gaming Server (RGS) technology with Caesars Digital in Pennsylvania and Ontario. The launch marked the expansion of Bragg’s existing partnership with Caesars Digital, following earlier launches in New Jersey and Michigan respectively, doubling the number of states/provinces in which Bragg content is offered on Caesars Palace Online Casino and Caesars Sportsbook & Casino.
Launched its newest games and RGS technology with FanDuel in New Jersey, adding to its existing distribution with the leading North American operator in Michigan, Pennsylvania, Connecticut and Ontario
Post-quarter end, the Company additionally launched its newest games and RGS technology with bet365 in New Jersey, following on from its second quarter launch in Pennsylvania, and an earlier launch in Ontario with the major global iGaming operator
Launched HardRockCasino.nl in the Dutch market, supplying its cutting-edge player account management (PAM) software to the brand. The agreement is Bragg’s 6th PAM customer in the Netherlands, reinforcing Bragg’s status as the leading technology and content supplier in the Dutch market
Launched the Kambi sportsbook on 711.nl, adding an additional revenue-generating product stream to a key PAM customer in the Netherlands
Management is pleased to announce the appointment of Robbie Bressler to CFO of Bragg, effective immediately. Robbie had been serving as Bragg’s interim CFO since July 1, 2024.

Additional September 30, 2024 Key Financial Metrics

For the nine-month period ended September 30, 2024, Cash flow generated from operations was EUR 8.4 million (USD 9.4 million), compared to EUR 6.2 million (USD 6.9 million) for the nine-month period ended September 30, 2023.
Cash and cash equivalents as of September 30, 2024 was EUR 11.6 million (USD 13.0 million) and net working capital, excluding deferred consideration, loans payable, and convertible debt, was EUR 11.3 million (USD 12.7 million)

Strategic Alternatives Process Concluded
The Bragg Board announced the strategic alternatives process in March 2024 with the formation of a Special Committee, comprised solely of independent members of the Board. The Committee, together with its advisors Oakvale Capital LLP and Blake, Cassels & Graydon LLP, evaluated a wide range of strategic alternatives for maximizing shareholder value including a potential sale or merger of the Company. Bragg solicited interest from a significant number of potential counterparties and received multiple non-binding proposals.

After careful consideration, the Board, on recommendation from the special committee, unanimously determined that none of the proposals received reflect the Company’s intrinsic value or current and projected financial performance, and therefore elected to conclude its review and disband the Special Committee.

Don Robertson, independent Board member and Chair of the Special Committee, said, “After a comprehensive and exhaustive process, the Committee recommended, and the Board unanimously agreed, that continuing to execute Bragg’s strategic plan as an independent public company is the best approach for maximizing shareholder value. Although the process has now concluded, Bragg’s Board will continue to be open to and consider all opportunities for enhancing shareholder value.”

“Over the past year, our financial performance, cashflow generation and revenue outlook have significantly improved. We remain extremely confident about our business plan, operating strategy, and financial prospects” said Matevž Mazij, Chairman and CEO of Bragg.

Reiterates Full Year 2024 Guidance and 2025 Outlook
Bragg reiterates its 2024 full year revenue guidance range of EUR 102.0-109.0 million (USD 114.2-122.1 million) and its full year Adjusted EBITDA range of EUR 15.2-18.5 million (USD 17.0-20.7 million), noting that the Company is currently tracking to the lower end of guidance.

Bragg is actively advancing a robust pipeline of opportunities that is anticipated to drive strong momentum as we enter 2025. The outlook for 2025 remains positive, with expectations of sustained double-digit top line growth, expanding bottom line margins, and increased operational leverage, further strengthening Bragg’s position in the market. The preceding guidance and outlook constitute forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks.

BetMGM

BetMGM and Vegas Golden Knights Announce Multi-Year Partnership Extension

Published

21 minutes ago

November 15, 2024

GamingAmericas.com

betmgm-and-vegas-golden-knights-announce-multi-year-partnership-extension

BetMGM, a leading sports betting and iGaming operator, announced an extension of its partnership with the Vegas Golden Knights through the 2026-27 season. As part of the agreement, BetMGM will continue as an Official Betting Partner of the Vegas Golden Knights with prominent signage on the Knight Tron and throughout T-Mobile Arena as well as co-branded content and exclusive promotions. The partnership also features multiple fan engagement opportunities including watch parties and Toshiba Plaza activations.

“BetMGM is proud to continue our partnership with the Vegas Golden Knights, giving us the opportunity to create memorable moments alongside one of the world’s most passionate hockey fan bases. Las Vegas is BetMGM’s hometown and an integral part of our DNA, so the Golden Knights are a natural fit for our brand.” – Matt Prevost – BetMGM, Chief Revenue Officer.

Throughout the season, BetMGM will host watch parties featuring team mascots at various MGM Resorts destinations. The operator also will plan activations in Toshiba Plaza during select Golden Knights home games where fans can begin the BetMGM mobile app registration process for the chance to win prizes.

“BetMGM is a long-standing partner with the Golden Knights and a brand synonymous with this great city,” said Vegas Golden Knights President and CEO Kerry Bubolz. “We look forward to continue working together on events and activations that we know entertain our fans.”

Lance Evans, SVP Sports and Sponsorships, MGM Resorts, said, “The Vegas Golden Knights play a core role in the Las Vegas sports and entertainment experience and it’s a privilege to welcome both local and visiting fans to our properties before, during and after games. Together with BetMGM, we look forward to co-hosting events that will allow guests to engage with their favorite teams in new and exciting ways.”

BetMGM users can take advantage of the robust offering of prop markets for Golden Knights games this season, frequent in-app odds boosts and the interactive same game parlay betting feature. New BetMGM customers who download the BetMGM app and verify at one of BetMGM’s nine retail sportsbooks within walking distance of T-Mobile Arena will receive a first bet offer of up to $250 paid back in bonus bets if their first bet loses (offer only available in Nevada; bonus bets are non-withdrawable and expire in seven days.) Through the recently launched single account and wallet app upgrade, BetMGM users who sign up in Nevada and reside in other BetMGM U.S. mobile markets can continue to wager upon returning home.